Additionally, in 2021, Nationwide will introduce several in-plan lifetime income options that pair income guarantees with TDFs.
It is looking into whether agents are engaging in deceptive and unfair sales practices, such as failing to appropriately disclose product costs and merits.
The plaintiff in the case, in which lower courts sided with Great-West, argues that the lower courts erroneously distinguished plan contracts from any other type of plan asset.
Instead, workers will source funding from their 401(k), IRA or other savings vehicles.
The amendment is a fiduciary rule safe harbor for the selection of a lifetime income provider for retirement plans.